Fed Watcher Quote Of The Day : Planet Money The President of the St. Louis Fed is warning of Japanese style deflation.
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Fed Watcher Quote Of The Day

St. Louis Fed President James Bullard is worried about deflation, and he has a new paper out today, that has caught the attention of Fed watchers everywhere. Here's the money quote:

The U.S. is closer to a Japanese-style outcome today than at any time in recent history.

For a quick review of what happened during Japan's "lost decade," listen to our interview with Adam Posen, author of Japan's Financial Crisis and Its Parallels to U.S. Experience.